sec.62Liability for Commonwealth tax equivalents

### sec.62 Liability for Commonwealth tax equivalents The responsible Ministers may issue a manual (the tax equivalents manual ) about deciding the tax equivalents to be paid by the Authority. Without limiting subsection (1) , the tax equivalents manual may provide for— rulings by the tax assessor appointed under subsection (3) on issues about tax equivalents, including the application of rulings under a Commonwealth Act about Commonwealth tax; and the lodging of returns by the Authority; and assessing returns; and the functions and powers of the tax assessor appointed under subsection (3) ; and objections and appeals against assessments and rulings. The responsible Ministers may appoint a person to be the tax assessor under the tax equivalents manual. The Authority must, as required under the tax equivalents manual, pay tax equivalents to the responsible Ministers for payment into the consolidated fund. The responsible Ministers must table a copy of the tax equivalents manual, and each amendment of the manual, in the Legislative Assembly within 14 sitting days after the manual is issued or the amendment made. In this section— Commonwealth tax means tax imposed under a Commonwealth Act. tax equivalents means amounts paid by the Authority to the responsible Ministers, for payment into the consolidated fund, as the value of benefits derived by the Authority because it is not liable to pay Commonwealth tax that would be payable by it if it were not a government entity. s 62 amd 2012 No. 39 s 102 sch pt 2 (sec.62-ssec.1) The responsible Ministers may issue a manual (the tax equivalents manual ) about deciding the tax equivalents to be paid by the Authority. (sec.62-ssec.2) Without limiting subsection (1) , the tax equivalents manual may provide for— rulings by the tax assessor appointed under subsection (3) on issues about tax equivalents, including the application of rulings under a Commonwealth Act about Commonwealth tax; and the lodging of returns by the Authority; and assessing returns; and the functions and powers of the tax assessor appointed under subsection (3) ; and objections and appeals against assessments and rulings. (sec.62-ssec.3) The responsible Ministers may appoint a person to be the tax assessor under the tax equivalents manual. (sec.62-ssec.4) The Authority must, as required under the tax equivalents manual, pay tax equivalents to the responsible Ministers for payment into the consolidated fund. (sec.62-ssec.5) The responsible Ministers must table a copy of the tax equivalents manual, and each amendment of the manual, in the Legislative Assembly within 14 sitting days after the manual is issued or the amendment made. (sec.62-ssec.6) In this section— Commonwealth tax means tax imposed under a Commonwealth Act. tax equivalents means amounts paid by the Authority to the responsible Ministers, for payment into the consolidated fund, as the value of benefits derived by the Authority because it is not liable to pay Commonwealth tax that would be payable by it if it were not a government entity. - (a) rulings by the tax assessor appointed under subsection (3) on issues about tax equivalents, including the application of rulings under a Commonwealth Act about Commonwealth tax; and - (b) the lodging of returns by the Authority; and - (c) assessing returns; and - (d) the functions and powers of the tax assessor appointed under subsection (3) ; and - (e) objections and appeals against assessments and rulings.